The Uttar Pradesh (UP) Government vide Section 21 of The Uttar Pradesh Value Added Tax Act 2008 and Rule 42 thereof has already recognized Cost Accountants  for the purpose of Auditing of Books of every taxable dealers under the Act. Now The UP  Government has issued an amendment to Rules vide Government Notification no. Ka.Ni.-2-684/XI-9(295)/07-U.P.VATRULES-08-order-(114)-2014, Uttar Pradesh Value Added Tax (Fifth Amendments) Rules 2014 and amended inter alia the definition of “Accountant”.

Existing Clause Clause as Substituted by the Uttar Pradesh Value Added Tax (Fifth Amendments) Rules 2014
Rule 2(e):

Accountant” means a Chartered Accountant as defined in chartered Accountants Act, 1949, or a member of an Association of Accountants recognized in this behalf by the Central Board of Revenue.

Rule 2(e):

“Accountant” means a Chartered Accountant as defined in Chartered Accountants Act, 1949, or a ,member of an Association of Accountants recognized in this behalf by the Central Board of Revenue and includes a Company Secretary as defined in the  Company Secretaries Act, 1980 and a Cost Accountant as defined in the Cost and Works Accountant Act, 1959.

Click here to see the full amendment notification.

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Category : Goods and Services Tax (7414)
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Tags : CMA (343) goods and services tax (5896) ICAI (2675) ICSI (428) MVAT (816) Tax Audit (302)

0 responses to “UP VAT- CS, CMA included in definition of Accountant”

  1. R.SUBRAMANIAN says:

    a ,member of an Association of Accountants recognized in this behalf by the Central Board of Revenue – WHAT IS THE MEANING CLARIFICATION PLEASE – it is a state VAT practitioner or not

  2. MANDEEP SINGH says:

    Mostly under vat act audit is 70% of interpretation of laws & 30% related to financial accounts. Due to the reasons, Advocate should be authorise to sign audit report as a legal opinion on vat laws.

  3. B.S.K.RAO says:

    I AM VERY HAPPY & ITS A VERY GOOD DEVELOPMENT, I CONGRATULATE CS & CMAS IN THE ABOVE MATTER

  4. CA. PAWAN MITTAL says:

    correct meaning is
    In UPVAT ACT
    SECTION 21(17) If in respect of any particular assessment year, gross turnover of purchase or sale or both, as the case may be, of any dealer exceeds rupees one crore, then such dealer shall get his accounts verified and audited by a specified authority within six months from end of that assessment year and obtain within that period a report of such audit in the prescribed form duly signed and verified by such specified authority along with such particulars as may be prescribed. A true copy of such report shall be furnished by such dealer to the assessing authority within such period as may be prescribed. Explanation: For the purpose of this section, expression “specified authority” means-
    (i)a Chartered Accountant within the meaning of the Chartered Accountants Act, 1940 and includes persons by virtue of provisions of sub-section (2) of section 226 of the Companies Act, 1956, is entitled to be appointed to act as an auditor of companies;
    (ii)a Cost Accountant within the meaning of the Cost and Works Accountant Act, 1959;
    That means vat audit only by CA & CWA not CS
    CWA is included from starting of VAT law in up i.e. 1-1-2008 not now.
    Amendment dated 27-06-2014 in Rule 2(1)(e) is changed definition of accountant as under
    Rule 2(1)(e)Any applicant or opposite party shall be entitled to have his case argued before the appellate authority or the Tribunal by a lawyer or an accountant or a State Representative, as the case may be and includes a Company Secretary as defined in Companies Secretaries Act, 1980 and a Cost Accountant as defined in the Cost & Works accountant act, 1959…….
    This impact on rule no 63(8)which deals with disposal of appeals not audit.
    Rule 63(8) Any applicant or opposite party shall be entitled to have his case argued before the appellate authority or the Tribunal by a lawyer or an accountant or a State Representative, as the case may be.
    In whole act & rules no other meaning of accountant. Audit done by specified authority which definition is given sec 21(17) and CWA is included from starting of VAT law in up i.e. 1-1-2008 not now.

    Further very important aspect which is necessary to pick matter with up govt with our branch & CIRC is CA not authorises to introduce to dealer at the time of registration in up Vat. In form 7 only advocate are allowed. See form 7 – http:// 164.100.181.41/EREGISTRATION/

  5. CA PAWAN MITTAL says:

    correct meaning is
    In UPVAT ACT
    SECTION 21(17) If in respect of any particular assessment year, gross turnover of purchase or sale or both, as the case may be, of any dealer exceeds rupees one crore, then such dealer shall get his accounts verified and audited by a specified authority within six months from end of that assessment year and obtain within that period a report of such audit in the prescribed form duly signed and verified by such specified authority along with such particulars as may be prescribed. A true copy of such report shall be furnished by such dealer to the assessing authority within such period as may be prescribed. Explanation: For the purpose of this section, expression “specified authority” means-
    (i)a Chartered Accountant within the meaning of the Chartered Accountants Act, 1940 and includes persons by virtue of provisions of sub-section (2) of section 226 of the Companies Act, 1956, is entitled to be appointed to act as an auditor of companies;
    (ii)a Cost Accountant within the meaning of the Cost and Works Accountant Act, 1959;
    That means vat audit only by CA & CWA not CS
    CWA is included from starting of VAT law in up i.e. 1-1-2008 not now.
    Amendment dated 27-06-2014 in Rule 2(1)(e) is changed definition of accountant as under
    Rule 2(1)(e)Any applicant or opposite party shall be entitled to have his case argued before the appellate authority or the Tribunal by a lawyer or an accountant or a State Representative, as the case may be and includes a Company Secretary as defined in Companies Secretaries Act, 1980 and a Cost Accountant as defined in the Cost & Works accountant act, 1959…….
    This impact on rule no 63(8)which deals with disposal of appeals not audit.
    Rule 63(8) Any applicant or opposite party shall be entitled to have his case argued before the appellate authority or the Tribunal by a lawyer or an accountant or a State Representative, as the case may be.
    In whole act & rules no other meaning of accountant. Audit done by specified authority which definition is given sec 21(17) and CWA is included from starting of VAT law in up i.e. 1-1-2008 not now.

    Further very important aspect which is necessary to pick matter with up govt with our branch & CIRC is CA not authorises to introduce to dealer at the time of registration in up Vat. In form 7 only advocate are allowed. See form 7
    http:// 164.100.181.41/EREGISTRATION/

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